CVB Financial’s (CVBF) “Neutral” Rating Reiterated at Wedbush

CVB Financial (NASDAQ:CVBF)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They currently have a $19.00 target price on the financial services provider’s stock. Wedbush’s target price would suggest a potential upside of 11.18% from the company’s previous close.

Several other brokerages have also recently issued reports on CVBF. StockNews.com upgraded CVB Financial to a “sell” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods reduced their price objective on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. Finally, Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.50.

CVB Financial Stock Down 0.1 %

Shares of NASDAQ:CVBF opened at $17.09 on Thursday. CVB Financial has a 12-month low of $10.66 and a 12-month high of $21.77. The business has a 50 day moving average of $17.02 and a 200-day moving average of $17.70. The stock has a market cap of $2.39 billion, a PE ratio of 10.75 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The firm had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same period in the prior year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts expect that CVB Financial will post 1.43 earnings per share for the current year.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. bought 59,601 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director George A. Borba, Jr. bought 59,601 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Brager purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the transaction, the chief executive officer now directly owns 152,814 shares in the company, valued at approximately $2,559,634.50. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 63,601 shares of company stock worth $1,067,145. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in shares of CVB Financial during the 4th quarter worth approximately $36,000. GAMMA Investing LLC bought a new stake in CVB Financial in the fourth quarter valued at $102,000. Headlands Technologies LLC acquired a new position in shares of CVB Financial during the fourth quarter valued at about $122,000. Covestor Ltd grew its stake in shares of CVB Financial by 11.2% in the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after buying an additional 885 shares during the period. Finally, Assetmark Inc. increased its position in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.